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(i. The weekly sales from a sample of ten computer stores yielded a mean of $25,900; a median
$25,000 and a mode of $24,500. The shape of the distribution is negatively skewed
(ii. For the median (measure of central tendency) , the data must be ranked before it is possible to
Determine it.
(iii) If the sum of all the values of a distribution is divided by the number of values, the result is the
Arithmetic mean.
Base Pay
The initial rate of compensation an employee receives, not including benefits, bonuses, or any other potential earnings.
Merit Pay Plan
A pay system where employees receive increases in pay based on their performance, as determined through evaluations and assessments.
Performance Appraisal
A systematic evaluation process in which an employee’s job performance is assessed in relation to predefined objectives and criteria set by the employer.
Differential Piece Rate
A wage payment method where the pay rate varies depending on the worker's performance, typically offering higher rates for higher production levels.
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